Goods & Services Tax (GST) in IndiaLUT FOR EXPORTER UNDER GST

July 9, 20170
LUT FOR EXPORTER
Notification No. 16/2017 – Central Tax dated 7th July categorised the exporters which are eligible for LUT as below :
· A status holder as specified in para 5 of the FTP 2015-2020; Or
· A person who has received the due foreign inward remittances amounting to a minimum of 10% of the export turnover, which should not be less than one crore rupees, in the preceding FY.
PROVIDED that the exporter has not been prosecuted for any offence under the GST Laws or under the erstwhile Laws in matters involving tax evasion of more than Rs. 2.5 crores .
EXECUTION OF LUT
LUT needs to be executed on letterhead of the company (and not on stamp paper) for each FY. It should be signed by MD or company secretary or any person duly authorized by the board of directors.
LUT in GST

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